Updates

Gulf Keystone Petroleum

September 2005

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Our decision to suggest taking profit has proved correct, at least in the short-term, following a drilling update that said exploratory well RTB-W had proved unsuccessful and had been abandoned. That was the smallest of its exploration wells so it isn’t the end of the world. The rig has now moved to the GRJ discovery where Gulf intends to drill a second well. Meanwhile, Gulf is still awaiting the production licence from the Algerians for the GKN field (producing 1,500 b/d) which is a precursor to receiving its flow of revenues but with an oil price north of US$60, our guess is the Algerians will want to sit on their hands a little longer. Gulf is also awaiting equipment to begin reservoir simulation and testing at the ...

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BATM - Raises presence in VoIP area

Gulf Keystone - Shares soar ahead of imminent exploratory well drilling (August 2005)

Gulf Keystone Petroleum (June 2005)

Gulf Keystone - New Algerian licences won (May 2005)

Gulf Keystone - Evolution issue research note (February 2005)

Gulf Keystone - Awaiting Evolution note in next week (December 2004)

Gulf Keystone - Exciting prospect for 2005 (November 2004)

Gulf Keystone - Algerian oil and gas debutant (September 2004)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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